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Q4 2016 Marketbeat Wallonia Office Market

Cédric Van Meerbeeck

Take-up in regional markets during Q4 reached its highest level in more than five years and totalled 75,000 sq m with 13,000 sq m in Walloon markets. This strong quarter benefited from respectable demand in all three
Walloon markets.

The resulting regional markets take-up in 2016 was the best since 2012 with 242,000 sq m, including 46,000 sq m in Walloon markets (Figure 1). Indeed apart from Namur Walloon markets recorded either their best take-up in
many years, or were within their average range at worst.

Developers in most markets are cautious regarding the timing of new projects and will not build without committed tenants. This risks putting a certain strain on markets where Grade C buildings constitute the majority of take-up
and availability and the few available Grade A buildings are being snapped up.

The prime rent for Walloon office markets was EUR 155/sq m/year, located in Namur. Additionally, this constitutes the overall prime level for regional office markets.